The first post was Best Practice in Managerial Accounting with mySAP ERP financials. I feel that SAP is one of best management accounting solution available in the marketplace.
This is the 100th posts on the MA blog. As I summarise, some of the key topics discussed
Management Accounting :
- 10 Myths on Activity Based Costing – SSRK
- Transfer Pricing
- Throughput Accounting
- SSRK’s Management Accounting Repository
RV has posted about happenings in Accounting bodies around the world. His knowledge and updates has always helped readers of MA blog. Read more
Technology Updates
Management Accountant should be a all rounder who should have keen interest not only in accounting but also in technology . To balance his knowledge diet, there are posts in MA blog to help him to widen his horizon and look for ways how to use them in business.
- Car Satellite Navigation – Are you in tune with times
- Interesting Way to do business
- iGoogle – Your friend, philosopher and guide
We added Technology News Video feeds so that the readers can play the videos and easily digest the information. A picture is worth more than thousand words and a video… should be much more.
Cost & Management Accounting
Being a member of ICWAI, some of the posts are specific to India. The word “Chartered” a hot debate in India.
This topic has really caught up in Indian accounting arena and ICWAI has taken up with MCA to change the name of ICAI and ICWAI. What a false pride the word “Chartered” has in India when none of the specialised bodies formed by Act of Parliament has this word in their name.
The related topics helps the reader to analyse the above topic.
1. Definition of Professional Body
2. Rivalry in Professional Services
3. ICWAI applies for name change
4. ICAI’s new logo for its member
Sign Online petition – Name change of ICWAI
We have tried to highlight that foreign accounting have made inroads in India. They have a strong muscle and resources to take on any accounting body in India. So big brother ICAI, please be careful when you are down playing your sister institutes. In long run, you may find yourself in same boat. Yes …. same boat…as the Indian Bodies quarrel amongst each other… their resources would only buy a boat and not a ship !!!
Career
Gaining qualification is one thing but progressing in the career ladder gives a direction to your achievements. As they say, Success is getting along with others and getting ahead of few. The posts that help you sharpen your career skills. Read More
It is worth mentioning the inspiring short story emails from Rajesh Seshadri posted in CMA_India Yahoogroup. . You should make a point to visit website Reach (Resources Enriched & Amassed for Children) promoted by Rajesh Seshardri appreciate his efforts for the noble cause.
This is one of the best email from Rajesh Seshadri which I am reproducing on MA blog. This fits best the aspirations of the Management Accountants.
The Japanese have always loved fresh fish. But the waters close to Japan have not held many fish for decades. So to feed the Japanese population, Fishing boats got bigger and went farther than ever. The farther the fishermen went, the longer it took to bring in the fish. If the return trip took more than a few days, the fish were not fresh. The Japanese did not like the taste.
To solve this problem, fishing companies installed freezers on their boats. They would catch the fish and freeze them at sea. Freezers allowed the boats to go farther and stay longer. However, the Japanese could taste the difference between fresh and frozen and they did not like frozen fish. The frozen fish brought a lower price . So fishing companies installed fish tanks. They would catch the fish and stuff them in the tanks, fin to fin.
After a little thrashing around, the fish stopped moving. They were tired and dull, but alive. Unfortunately, the Japanese could still taste the difference.
Because the fish did not move for days, they lost their fresh-fish taste. The Japanese preferred the lively taste of fresh fish, not sluggish fish .
So how did Japanese fishing companies solve this problem? How do they get fresh-tasting fish to Japan? If you were consulting the fish industry, what would you recommend?
Scroll down for answer :
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Here is How Japanese Fish Stay Fresh:
To keep the fish tasting fresh, the Japanese fishing companies still put the fish in the tanks. But now they add a small shark to each tank. The shark eats a few fish, but most of the fish arrive in a very lively state. The fish are challenged. Have you realized that some of us are also living in a pond but most of the time tired & dull, So we need a Shark in our life to keep us awake and moving? Basically in our lives Sharks are new challenges to keep us active and lively ….
Challenge yourselves!!
This should be motto of every Management Accountant…. So Challenge Yourselves to stay ahead.
Regards,
Santosh Puthran
AICWA
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